THIS IS THE
CREDIT UNION
DIFFERENCE.
We are an alliance of credit unions helping members heal from the financial trauma of cancer through:
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DEBT RELIEF
A complete model for offering pauses for installment loan payments and interest up to 18 months to members in cancer-related financial distress.
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FINANCIAL COUNSELING
Best practices for guiding distressed members through the financial minefield of cancer, gathered from medical experts, Certified Credit Union Financial Counselors, and the rest of the LIFE OVER DEBT community.
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CANCER CARE LOAN
A loan with no payments or interest for 6 months to cover short-term financial struggles
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STAFF DEVELOPMENT
Webinars and educational resources for participating credit union staff about the realities of cancer-related financial distress
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POWERFUL STORIES
In-depth narratives about the members helped, and the credit union servant leaders who helped them, to inspire our communities and win legislative support.
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MEDICAL RESEARCH
Partnering with scientists to study the effect of these interventions and refining them over time.
OUR COMMUNITY:
Jason Stverak, Chief Advocacy Officer, Defense Credit Union Council
“[Enbright’s Life Over Debt program"] is just one example, but a very clear one, about how credit unions are different than banks.”
SUCCESS STORIES
“It’s going to give me a big break. I’m gonna be able to catch up to pay the other stuff I need to pay.
Thank you very much for this program. It’s an amazing blessing.
It’s going to help a lot of people to rebuild, to help them going through the illness and not to worry financially.”
— Ivonne, Enbright CU
“{Our member} has been diagnosed with two cancers and is experiencing financial hardship due to the expense of treatments.
He is being evicted from his apartment at the end of this month and will be living with friends from church. He has been pawning his possessions to make ends meet.
I let him know that we are giving him a 6-month payment suspension on his three loans with us. During this payment suspension, his loans will all be at 0% interest. He will not owe anything on his loans until April.
I also sent him a $100 gift card for gas to get him back and forth to his treatments.
He was very grateful that he wouldn't have to worry about those payments for now and expressed how thankful he was while wiping away tears.”
— Lori, CFCU Cancer Care Agent
The anxiety and stress of Tina’s multiple myeloma have been overwhelming; keeping up with her NOFFCU car payments has been just the tip of the iceberg.
In her words, “It's just been a struggle all the way. I'm sitting here trying to figure out how I'm going to survive.”
In March 2024, NOFFCU paused Tina's car payments for 12 months and dropped the interest rate to 0%. This saved her and her family over $7,000.
When NOFFCU called Tina to give her the good news, she was thrilled:
“That's wonderful. Thank you so much. God bless y'all...you're helping me out tremendously by doing this.”
The pause also improved her financial and emotional wellbeing by 250%.
— Adapted from 12 Months, Over $7,000, 250% (CUInsight, 4/17/2024)
These are the boldest steps ever taken by any financial institution against cancer. Here’s why:
Ron Shevlin, Chief Research Officer, Cornerstone Advisors and Forbes Magazine columnist
“If your organization is truly committed to improving the financial health of your customers/members, then you have to do (a lot) more than just provide financial education. Please check out Life Over Debt.”
CREDIT UNIONS WERE MADE FOR THIS.
LITERALLY.
The Umbrella Man was one of the original symbols of credit unions, created in the late 1920s by Joe Stern at the Boston Herald by request of industry pioneer Roy Bergengren.
It was designed to represent the everyday people at the heart of our movement, and our mission to protect them from the rainy days that threaten their financial wellbeing, no matter what.
Cancer is one of the worst storms our members will ever endure.
Let’s be their umbrella.
